Chief Audit Executive Salary
The average pay for a Chief Audit Executive is $153,668 per year. Most people in this job have more than five years' experience in related jobs.
Job Description for Chief Audit Executive
A chief audit executive is an advanced audit position that requires overseeing various internal auditing departments for a financial company. This is a senior leadership position, so many years of experience in the audit field are usually necessary. There are usually hiring and disciplinary duties in this position. The chief audit executive should work to create and manage an efficient and qualified audit team. The executive should work with various branches within the company, such as the legal department, risk management department, and compliance department. It is also important to work with outside auditors in order to determine the company’s risk and what needs to be done to achieve compliance. The executive needs to gain information from these parties in order to create a plan and strategy for internal audits.Read More...
The executive should be aware of changes within the company and developments outside of the company. The chief audit executive needs to create evaluations that can be carried out to make sure that all areas of the company are adhering to company policy and laws and regulations. The executive should devise plans that will analyze company operations and find problems within the operations, reasons for these issues, and what can be done to change them. Presentation and report making skills are usually necessary as the chief audit executive will have to present findings and suggestions for solutions to upper management. The chief audit executive may need to demonstrate methods to improve operational performance that are in compliance with various rules and regulations. Generally, a bachelor’s degree or master’s degree is needed for this position.
Chief Audit Executive Tasks
- Identify and implement control and compliance initiatives across the organization.
- Conduct audits, communicate with departments, and report on audit results.
- Set auditing strategies and goals, overseeing implementation and schedules.
- Oversee staff, mentoring and developing their skills.